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by treating obama's tax the rich philosophy, this obama supporter got an extra $4 million. i say that is hypocrisy. will you join me in condemning the hypocrisy of the superrich? [ laughter ] >> stuart, it is good to be here. i will have to look into that one a little more closely. i think we are getting closer to a deal before christmas. stuart: the bottom line is, i agree with you, by the way, i do not know about a deal before christmas, but i am sure that the president will insist on taxing the rich. it is written law. get out there. the rich will pay more money at the beginning of next year. i think we agree on that. >> that is what he campaigned on. stuart: now, if there is no agreement, the republicans will get the blame, won't they? they rejected this deal. this generous offer. >> there is a plan on the table. it is the fiscal cliff. we will have very large tax increases for everybody. the president has proposed something that would force all of that. can the republicans offer publicly an alternative, either to the fiscal cliff or to what the president is offering. t
by treating obama's tax the rich philosophy, this obama supporter got an extra $4 million. i say that is hypocrisy. will you join me in condemning the hypocrisy of the superrich? [ laughter ] >> stuart, it is good to be here. i will have to look into that one a little more closely. i think we are getting closer to a deal before christmas. stuart: the bottom line is, i agree with you, by the way, i do not know about a deal before christmas, but i am sure that the president will insist on...
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stuart: president obama will not budge on raising tax rates on the rich. speaker boehner responded to that this morning with a very brief statement, almost a bust, saying the president has an obligation to come up with a plan that would pass congress. not much response from the market. in fact zero response from the markets at all. citigroup shares moving this morning. citi announced plans to lay off, cut, 11,000 jobs worldwide. it will save more than a billion dollars in expenses. citi calls the job plan a repositioning of the company. the stock is up 4%. netflix down again after announcing a massive deal with disney that gives netflix exclusive rights to run disney movies first. investors don't like the cost of the deal. 300 million dollars a year. doesn't even begin till 2016. the stock is down. mike reagan is next with a new low -- i'm calling it a new low reached by the california teachers' union. mike reagan is next on that. stuart: you've got to take a look at this video out of california. it's incredible. it is from the teachers' union. >> because
stuart: president obama will not budge on raising tax rates on the rich. speaker boehner responded to that this morning with a very brief statement, almost a bust, saying the president has an obligation to come up with a plan that would pass congress. not much response from the market. in fact zero response from the markets at all. citigroup shares moving this morning. citi announced plans to lay off, cut, 11,000 jobs worldwide. it will save more than a billion dollars in expenses. citi calls...
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do you agree president obama's ultimatum on higher taxes are actually the cause? make him responsible for driving us off the fiscal cliff? go to our to be page at facebook facebook.com/loudobbs. we'll have results at the end. chris and steven joining us here next to address th question and more. you know, from our 4,000 television commercials. yep, there i am with flo. hoo-hoo! watch it! [chuckles] anyhoo, 3 million people switched to me last year, saving an average of $475. yeah, i'm kind of a big deal. [sigh] it feels good to help people save... with great discounts like safe driver, multicar, and multipolicy. 731, 732... you want my number, don't you? call 1-800-progressive right now. or visit progressive.com for an extra $50 online savings. thirsty? 'cause i got a six-pack right here. oh, yeah... [voice shaking] you don't even have to wait for your policy to expire to switch. oh, svetlana, that's so good! and, with every policy, you get great service. a-down the hizz-atch. [slurp!] so call me today. you'll be glad you did. cannonbox! [splash!] lou: house minor
do you agree president obama's ultimatum on higher taxes are actually the cause? make him responsible for driving us off the fiscal cliff? go to our to be page at facebook facebook.com/loudobbs. we'll have results at the end. chris and steven joining us here next to address th question and more. you know, from our 4,000 television commercials. yep, there i am with flo. hoo-hoo! watch it! [chuckles] anyhoo, 3 million people switched to me last year, saving an average of $475. yeah, i'm kind of a...
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do you agree president obama's ultimatum on higher taxes are actually the cause? make him responsible for driving us off the fiscal cliff? go to our to be page at facebook facebook.com/loudobbs. we'll have results at the end. chris and steven joining us here next to address that question and more. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho! [ malennouncer ] lease a 2013 e350 f $579 a month at your local mercedes-benz dealer. lou: house minority leader, pelosi going along with timothy geithner in saying it's just a fact we're going over the cliff if republicans do not agree to meet the president's ultimatum and raise taxes on the top 2%. >> the way i heard it, and the way i think it was not as a threat we'll go over if they don't, it's a prediction. if there's no agreement, then the cliff has to be dealt with. i don't see it if they don't do this, we do that. i saw it as a statement of fact. it's not a threat. it's a pr
do you agree president obama's ultimatum on higher taxes are actually the cause? make him responsible for driving us off the fiscal cliff? go to our to be page at facebook facebook.com/loudobbs. we'll have results at the end. chris and steven joining us here next to address that question and more. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho! [...
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more revenue than what president obama is taxing about what he says tax the rich, his proposal does not add a drop in the buckie on the our problem. this is not a plan or a solution, this is a political trophy, to the left. and republicans should not go along with it. neil: you know, senator, a pleasure knowing you, i always gauge viewer interest in a particular personalty, or senator or congressman from number of e-mails i get, it is not a quid pro quo but this is a good barometer, i get a ton you on every time, whether, fox news or fox business, that leads me to believe, a lot of folks really like you, it can't just be your family e-mailing me, which makes me think there is a presidential candidate in the making, what do you say? >> i told ed folder of heritage foundation 4 years okay when people told me to run for president is only president i want to be is president of heritage foundation, this is the group that can turn our country. neil: you would rather be president of the he heritage foundation than president of u.s. >> i don't think you will see a conservative as president
more revenue than what president obama is taxing about what he says tax the rich, his proposal does not add a drop in the buckie on the our problem. this is not a plan or a solution, this is a political trophy, to the left. and republicans should not go along with it. neil: you know, senator, a pleasure knowing you, i always gauge viewer interest in a particular personalty, or senator or congressman from number of e-mails i get, it is not a quid pro quo but this is a good barometer, i get a ton...
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obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they help the poor. and there is this one. my2k should really be somebody else's two k. they can government not to take their money and say take it from someone else. and then there is this one, y2k was caught by programmers failing to limit code 24 places. speed was caused by americans failing to limit obama to four years. back to you. melissa: thank you so much, thanks they want to tweet hash tag bad ideas. thank you, dennis. lori: what is going on? melissa: you haven't been shopping. lori: luxury jeweler not looking very pretty today. the trade at the nyse coming ahead. melissa: is andrew mason the right person to run it groupon? meeting on the troubled company's future. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. now is a good time to think about your options. are you lookin
obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they help the poor. and there is this one. my2k should really be somebody else's two k. they can government not to take their money and say take it from someone else. and then there is this one, y2k was caught by programmers failing to limit code 24 places. speed was caused by americans failing to limit obama to four years. back to you. melissa: thank you so much, thanks they want to tweet...
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the one thing we do know, your taxes are going up from an obama care tax attack. no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank finefein. >> the highlight of the meeting was the intensity from which the white house emphasized that marge al rates as a matter of math and politics have to go up somewhat, if not all the way to 31.6 had to go up and as p he said as a necessary ingredient of a deal, he would support such a rate. >> the president said we would pursue our own interests. i'm not -- i'm certainly not insisting, i don't even desire higher rates. i think there lab drag if revenue goes up and rates go up. but i think there will also be a drag on the american economy if our budget deficit widens out fo
the one thing we do know, your taxes are going up from an obama care tax attack. no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank...
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white house reporting president obama will take questions on twitter at 2 p.m. eastern time, about the fiscal cliff all part of the white house's my2k twitter campaign w-9 president drumming up support for taxes on the rich. george hw bush in stabbe condition after receiving stream for a bronchitis-related cough. the 88-year-old has been in the hospital for a week receiving treatment visited by several of his children including former president george w. bush. the royal family getting a new member. the st. james' palace saying they are expecting a baby. the queen and members of the both pams are delighted with the news. the duchess is in the very early stages of pregnancy. those are the head lines. >> oh, that's fun. a royal baby. >> yes, thank you, lauren greern. >> sure. >> to charlie, the president must want fat cats to support the plan to end the fiscal cliff impasse. we have the behind the scene meetings between the executives. >> caught a lot of people by surprise. it was last week where deputy secretary of state, tom nides, went to the city, held a series
white house reporting president obama will take questions on twitter at 2 p.m. eastern time, about the fiscal cliff all part of the white house's my2k twitter campaign w-9 president drumming up support for taxes on the rich. george hw bush in stabbe condition after receiving stream for a bronchitis-related cough. the 88-year-old has been in the hospital for a week receiving treatment visited by several of his children including former president george w. bush. the royal family getting a new...
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when we go over the cliff as matter of law the obama tax cuts expire. we have sequestration where these drastic cuts take place but the president politically knows that even if it a deal is made in january, february on spending they can be made retroactively. so the president believes he is in a much better position on spending than he is today in making a deal because any deal that they make will be retroactive. adam: let me flip your logic. do you think politically i don't think it would be good economically, politically good for the republicans to call the bluff, go over the cliff. yes, there is short-term pain come 2014, midterm's election the president's economy. the president gets responsibility for what happens after the cliff drops. wouldn't that be the political move to make if you're john boehner? >> we really have no choice. president is in the driver's seat and boehner is hostage in the back seat with the president with his foot on the gas. nothing the speaker can do, other than perhaps, i think it would be politically wise for the house to
when we go over the cliff as matter of law the obama tax cuts expire. we have sequestration where these drastic cuts take place but the president politically knows that even if it a deal is made in january, february on spending they can be made retroactively. so the president believes he is in a much better position on spending than he is today in making a deal because any deal that they make will be retroactive. adam: let me flip your logic. do you think politically i don't think it would be...
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Nov 29, 2012
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as president obama pushes for tax hikes on wealthier americans, he might look to britain to see the effect it has. it's not revenues. it's surprisingly less. after the labour par, that is, there, pushed for the top tax rate to 50%, 5-0, the richest ft. two-thirds left to avoid paying the new tax. it also stopped people coming to and investing in britain. there's a lesson for you. turns out the proof is in the pudding realizing the errors of the way, the government is cutting the top rate to 45%. more to ce like should washington sub di size wind energy? more on the fiscal cliff as americans on all levels have to prepare to take the tax hit. hope it doesn't, but i'm going to break it down next. ♪ gerri: i always like to give you the straight poop on everything, and, today, i'm concerned about the fiscal cliff. in the past two days, two very well-connected professional money managers have spoken to me about their trepidation their clients have about the expiration of the bush tax cuts and the cut backs on spending. money is worried, concernend many are selling as you've seen. to read the s
as president obama pushes for tax hikes on wealthier americans, he might look to britain to see the effect it has. it's not revenues. it's surprisingly less. after the labour par, that is, there, pushed for the top tax rate to 50%, 5-0, the richest ft. two-thirds left to avoid paying the new tax. it also stopped people coming to and investing in britain. there's a lesson for you. turns out the proof is in the pudding realizing the errors of the way, the government is cutting the top rate to...
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and offered by tim geithner who had tax problems in the past and today president obama is it at a toy factory campaigning for new taxes on the rich. and joining us is julia. >> hi. stuart: how are you. >> i'm great. stuart: i can't believe that you, as a regular american, want to do this to america, do you? >> i think it's because-- i don't think that this is exactly what what's going to happen. stuart: you don't think that the president will actually do this. >> no, no, i think the president has learned to negotiate. what the president would do, he would start with sort of half a loaf and negotiate and give the republicans about 75% of what they wanted. i think he's finally understood if you want to actually get to at least halfway, you have to start at extremes and meet halfway. republicans have done this all along. stuart: you agree with me, if this plan, anything like it from the president, were imposed on the economy at this time it would lead to recession. >> i think that the president is fully aware as are democrats and anybody realistic. stuart: you make that judgment. >> i am
and offered by tim geithner who had tax problems in the past and today president obama is it at a toy factory campaigning for new taxes on the rich. and joining us is julia. >> hi. stuart: how are you. >> i'm great. stuart: i can't believe that you, as a regular american, want to do this to america, do you? >> i think it's because-- i don't think that this is exactly what what's going to happen. stuart: you don't think that the president will actually do this. >> no, no,...
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speaker boehner is giving away too much, the tax hikes, 800 billion, only half of what president obama has on the table. still, too much for republicans to be in favor of. >> we want to solve the problem. i am proud of what speaker boehner is doing. there are 535 members in the house and the senate. we have to solve this problem. what i like about what speaker boehner is doing, he is at the table trying to get this done. connell: you are behind your speaker is basically what i am hearing. >> absolutely. he does not want to raise rates. we have to get serious. what i have not heard from the president any details on how he would actually cut spending. connell: say if the president were to come up and say i am going to cut into medicare, you know, i don't know if they double it, but they come up with a lot more in the medicare cuts, are you prepared to vote for tax increases, first of all, are you prepared to go for higher tax rates at all? >> no. we have to solve this long-term. we have to do some entitlement reform. you will vote for some. >> i rather not do that. i don't think it will
speaker boehner is giving away too much, the tax hikes, 800 billion, only half of what president obama has on the table. still, too much for republicans to be in favor of. >> we want to solve the problem. i am proud of what speaker boehner is doing. there are 535 members in the house and the senate. we have to solve this problem. what i like about what speaker boehner is doing, he is at the table trying to get this done. connell: you are behind your speaker is basically what i am hearing....
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obama gets to negotiate a tax cut with republicans, a lot more fun and easier to do than tax increases. i don't know they get more leverage in the new year with the possible exception that the fact that, you know, the debt ceiling will loom again, hitting that debt ceiling giving republicans some leverage down the road, but in the short term, you're right, the leverage goes more to president obama right now. >> i have fiscal cliff fatigue. thank you very much. >> sure. tracy: we all do, dennis, but we have to talk about it because congress has to deal with it. we have a new gallup poll showing 5 # 4% of the voters rate the honesty of members of congress below that of used car salesmen. dianne black of tennessee joins us from the home state to hear what the constituents are telling her. what are con constituents sayin? >> well, you know, i'm hearing -oth from my individual constituents and business owners they are really concerned about the spending problem in washington. that's not really talked about. there's a lot of focus on the other side, but there is a real need to control the sp
obama gets to negotiate a tax cut with republicans, a lot more fun and easier to do than tax increases. i don't know they get more leverage in the new year with the possible exception that the fact that, you know, the debt ceiling will loom again, hitting that debt ceiling giving republicans some leverage down the road, but in the short term, you're right, the leverage goes more to president obama right now. >> i have fiscal cliff fatigue. thank you very much. >> sure. tracy: we all...
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president obama came in negotiating hard from the start. here iwhat i want in tax increases. by the way i will increase in ending on infrastructure just to show starting from a point where he believes he has real strength and will stick it to the other side. what do you think of the counterproposal from republicans. is it strong or looking weaker? >> with any negotiation with the president's side t especially a few weeks ago, maybe you come out and shoot for the top, knowing you may not meet in the middle. i don't know if they will meet and splithe baby. melissa: right. >> do i think you always know at eventually you will have to rear back a little bit towards the middle. melissa: yeah. >> as far as the republicans counter, i think they're trying to at least in certain, especially with government. there is always posturing, right? melissa: right. >> partly it is posturing hey, we're willing to talk. here's what we're thinking to at least try to jump-start this as the clock continues to kick. melissa: when you look at the nuances what is going on in the media, yesterday everyb
president obama came in negotiating hard from the start. here iwhat i want in tax increases. by the way i will increase in ending on infrastructure just to show starting from a point where he believes he has real strength and will stick it to the other side. what do you think of the counterproposal from republicans. is it strong or looking weaker? >> with any negotiation with the president's side t especially a few weeks ago, maybe you come out and shoot for the top, knowing you may not...
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president obama spent his afternoon in northern virginia again pushing his case for raising taxes on families earning more than $250,000 a year. >> i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done that is good for families like this one and that is good for the american economy. >> so i think it's safe to say at this point that the president actually isn't interested in a balanced agreement, he's not particularly interested in avoiding the fiscal cliff, and he's clearly not interested at all in cutting any spending. >> reporter: while democrats and republicans debate the size and specifics on tax increases, the two sides also remain apart on spending cuts, reforming entitlement programs like medicare and on the president's request to have greater power to raise the country's debt limit. but the news coming out of this one, "wall street journal" headlines saying that staff members from the president's team and from speaker boehner's team are genre assuming talks. we con
president obama spent his afternoon in northern virginia again pushing his case for raising taxes on families earning more than $250,000 a year. >> i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done that is good for families like this one and that is good for the american economy. >> so i think it's safe to say at this point that the president actually isn't interested...
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it's not like folks who make more than 250 aren't getting a tax break, they've getting a tax break on the first 250, just like everybody else. >> congressman cole first said this in a closed door meeting with republicans yesterday. he said basically exactly what president obama just said and he then expanded on his comments instead of denying them or refusing to comment at all, which he could have done. house speaker john boehner, who needs other loyal republicans to start talking sense to crazy tea party, he was outraged by his suggestion. >> you're not going to grow the economy if you raise tax rates on the top two rates. we're willing to put revenue on the table as long as we're not raising rates. >> but that didn't stop congressman cole from going on hardball today continuing to sell the idea of making peace with the president for the sake of 98% of american taxpayers. >> if the president's willing to accept 80% of the bush tax cuts for 98% of the american people and make them permanent, i think that is a point we should agree op. >> tom cole also made it clear he is still a boehn
it's not like folks who make more than 250 aren't getting a tax break, they've getting a tax break on the first 250, just like everybody else. >> congressman cole first said this in a closed door meeting with republicans yesterday. he said basically exactly what president obama just said and he then expanded on his comments instead of denying them or refusing to comment at all, which he could have done. house speaker john boehner, who needs other loyal republicans to start talking sense...
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you won't raise taxes and cut spending. neither one of those stimulates growth. it is a matter of how you do it. >> this is why, although obama's proposal did not talk about spending cuts and i wish he had, he talked about stimulus and infrastructure spending as part of his proposal. they will spend some on infrastructure. they are worried about the economy. very anemic in the first half of next year. connell: what do you make of it? >> we do not have a choice. we have to raise revenue. we have to cut spending. we have to get on a more solid path. there will be a cost to it. the other problem is, you know, to your point, when you talk about, let's say you use the word tax reform, what does that mean, they will deal with either the mortgage deduction, the charitable deduction or the state tax deduction. think about how that affects the behavior of individuals. that is all coming down the road. that will come and it talked about exterior. it really affects people's behavior. connell: robert, always great stuff. thank you. we do have a little piece of breaking news
you won't raise taxes and cut spending. neither one of those stimulates growth. it is a matter of how you do it. >> this is why, although obama's proposal did not talk about spending cuts and i wish he had, he talked about stimulus and infrastructure spending as part of his proposal. they will spend some on infrastructure. they are worried about the economy. very anemic in the first half of next year. connell: what do you make of it? >> we do not have a choice. we have to raise...
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highly unattractive tax plan for investors. big winners on the day, financials, citi group stock up after announcing they are laying off 4% of the work force, cutting cost, bank of america and travelers example of the financialses movg higher. marathon, chevron, conoco all higher. crude oil down for a second straight day closing under 88 a barrel, an ten yeartreary down to 1.59%. no progress in resolving the fiscal cliff today. i know, you're not surprised by that, but we can report there were, well, some contact between the two principle players in the negotiations if there were negotiations. president obama and speaker john boehner actually talked to one another. it was on the telephone. it was not the face-to-face meeting the speaker says is necessary, but it was the first time that the two men have spoken in a week. for the latest on these stalled negotiations, we turn to fox news chief white house correspondent ed henry forhe report. >> trying to lay blame for stalled buet talks on republicans, president obama today wratet
highly unattractive tax plan for investors. big winners on the day, financials, citi group stock up after announcing they are laying off 4% of the work force, cutting cost, bank of america and travelers example of the financialses movg higher. marathon, chevron, conoco all higher. crude oil down for a second straight day closing under 88 a barrel, an ten yeartreary down to 1.59%. no progress in resolving the fiscal cliff today. i know, you're not surprised by that, but we can report there were,...
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president obama remarkably consistent in his intent to raise taxes on the top 2% of taxpayers. half of those are small-business men and women. the entire election season, he did say a number of times since being reelected, and he's not backing off. the president and his baath insist on higher taxes for the so-called wealthy. remarkably, republicans seem surprised by secretary geithner. chief correspondent ed henry with our report. reporter: optimism faded as timothy geithner let the republicans to declare the talks are going nowhere. >> i'm disappointed. i'm disappointed in where we are and what has happened over the last couple of weeks. i'm here trying to seriously resolve it. and i would hope the white house would get to it as well. reporter: a key driver is that the president announced that spending cuts can wait. >> it would give us more time the next year to work together on a comprehensive plan to bring down the deficit. jay carney broke new ground by declaring that the president does on spending cuts within the budget plan to be included in the fiscal cliff talks. >> ca
president obama remarkably consistent in his intent to raise taxes on the top 2% of taxpayers. half of those are small-business men and women. the entire election season, he did say a number of times since being reelected, and he's not backing off. the president and his baath insist on higher taxes for the so-called wealthy. remarkably, republicans seem surprised by secretary geithner. chief correspondent ed henry with our report. reporter: optimism faded as timothy geithner let the republicans...
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and the president obama break the law? for legal eagles looked at in the case making its way to the federal court. ♪ you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended viscon®. only gaviscon® forms a protective barrier that helps block stoch acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. well, having a ton of locatis doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break fm the holiy stress. fedex office. gerri: did president obama break the law? a federal appeals court is deciding if the president's appointments to the national labor relations board when the senate was on recess was unlawful. why? well, because senate senate republicans say the senate was in session. the chris was brought on by a bottling company after the nlrb ruled that the company must enter into a collective bargaining agreement with the labor union. the company is arguing the decision
and the president obama break the law? for legal eagles looked at in the case making its way to the federal court. ♪ you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended viscon®. only gaviscon® forms a protective barrier that helps block stoch acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. well, having a ton of locatis doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer....
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the obama people will be able to say you gave away the ability to keep taxes down on 98% of americans. and for the president, the idea that he would allow the taxes to go up, again, on appetizing for him given that he said he would protect the american middle class. lori: he said the same thing over and over again. how do you see this sorting itself out? >> from purely a political viewpoint, i did not see why anyone would not make a deal. the fear i have is they just kick the can down the road thing and they create a three-month bridge. not the heart and soul of it which will be, as you said, some kind of tax hikes. then, you move on, in terms of the entitlement cuts. i do not think we will get the social security. when it comes to spending and social security on the like -- that is what will happen. i do not see why people don't just make the deal. lori: how much further down the road can it go? juan williams, so nice to see you. have a nice weekend. >> thank you, lori. melissa: charlie gasparino has the latest details. he was pulling his hair during the last bit. charlie: i like jua
the obama people will be able to say you gave away the ability to keep taxes down on 98% of americans. and for the president, the idea that he would allow the taxes to go up, again, on appetizing for him given that he said he would protect the american middle class. lori: he said the same thing over and over again. how do you see this sorting itself out? >> from purely a political viewpoint, i did not see why anyone would not make a deal. the fear i have is they just kick the can down the...
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the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families. that's already passed the senate. your members of congress, like allyson and chaka, other democrats in the house, they're ready to go, they're ready to vote on that same thing. if we can just get a few house republicans on board, we can pass the bill in the house, it will land on my desk, and i am ready, i have got a bunch of pens ready to sign this bill. >> 30 minutes after the president was finished, house speaker john boehner held a press conference, and he left unanswered the president's call for decoupling that 98% from the richest 2%, and he gave a pessimistic assessment of the si
the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families....
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. >> california, they just voted 13.3% state tax on top of the obama 40% tax. >> why do you think people are leaving? why would you stay there? >> you wouldn't. >> good to see you. the five is doing great. won greatlation toss both of you. coming up, liberals deny there are any eye vent extremists on theiren of the video spectrum but anarchists are now calling for violence on american soil. and is john boehner retaliating against his own tea party members? we have two congressmen who stood by the tea party principles and they now find themselves stripped of key positions. we will tell you what they are going through inside the going through inside the spspspspspspsp having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is n
. >> california, they just voted 13.3% state tax on top of the obama 40% tax. >> why do you think people are leaving? why would you stay there? >> you wouldn't. >> good to see you. the five is doing great. won greatlation toss both of you. coming up, liberals deny there are any eye vent extremists on theiren of the video spectrum but anarchists are now calling for violence on american soil. and is john boehner retaliating against his own tea party members? we have two...
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tax cuts, and sort of dare the republican party not to vote for, you know, a new round of obama tax cuts. politically the president holds those but it's more important than that. the american people, after looking at options presented to them reclearly with a return of president obama to the white house, or initiating mitt romney presidency, chose a return of president obama to the white house and therefore gave him a very clear mandate to hold the line on the question of entitlements there when it comes to talking about entitlements, or earned benefits as progressives like to refer to it, what is the way that the president and those on the left can look and also appear to the right to be willing to compromise? what can they put on the table, if anything? >> well, i just don't think that any of us think that it is a reasonable idea to over the course of the next week and a half, over the course of the holiday season, for the president and this congress, which is a lame duck congress, to engage in major entitlement reforms of programs that have helped to lift millions of americans ou
tax cuts, and sort of dare the republican party not to vote for, you know, a new round of obama tax cuts. politically the president holds those but it's more important than that. the american people, after looking at options presented to them reclearly with a return of president obama to the white house, or initiating mitt romney presidency, chose a return of president obama to the white house and therefore gave him a very clear mandate to hold the line on the question of entitlements there...
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president obama wants those tax rates raised. john boehner, he wants fewer deductions, limits on deductions. that's the status quo right now of the discussion there. i want to bring you to the big board because we're going nowhere this tuesday morning on very low volume. back below 13,000. tuesday morning, here's the company: elizabeth macdonald is with us. david asman is with us. and nicole petallides right there on the floor of the new york stock exchange. china, cracking down on money transfers at wynn macau casinos. i guess that wynn stock is going to be down? nicole: you are right. we're seeing the stock down nearly 4% here. this is not good news for them overall. basically china's new leadership cracking down on fast money moving. they are going to set rules where you can't -- restrict the limits on how much money can actually be taken out of the country. there are a lot of new rules that would be put in place. all of it is obviously for responsible gambling, but it seems to be a lot deeper than that. stuart: i've been to t
president obama wants those tax rates raised. john boehner, he wants fewer deductions, limits on deductions. that's the status quo right now of the discussion there. i want to bring you to the big board because we're going nowhere this tuesday morning on very low volume. back below 13,000. tuesday morning, here's the company: elizabeth macdonald is with us. david asman is with us. and nicole petallides right there on the floor of the new york stock exchange. china, cracking down on money...
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rates are going to automatically increase, which means any lower tax rates president obama will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so every day that goes by after january 1st isn't going to look like that big of a deal and essentially, time will run out for both parties, you will have a lot of problems in 2013, they will take the lion's share away from fiscal dealmaking, senate confirmation, have the debt ceiling, the long-delayed nuclear negotiableses with iran, going to have posturing for the 2014 campaigns. all of those things are going to suck out the moment up that we have right now. so, yes, democrats are not as bad off as the r
rates are going to automatically increase, which means any lower tax rates president obama will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and...
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the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. now our viewers can see who said this, would you be surprised that was barack obama speaking back in 2011? >> let's replay that tape. i would like to hear that again. he is talking some sense. david: what happened, bob? he is exactly the opposite today, saying that we need higher taxes. what happened in the course of a year? >> so what you're pointing out is uncertainty. i think people and businesses can deal with tax rates different from what they are. where they can't deal is when we have no clue. uncertainty is one of the worst things for markets and that's why, as you reported a few minutes ago, companies are sitting on this massive amount of cash. they just don't know what to do. we need to give them the rules. sandra: so bob, if we can all agree that taxes in some form are going to go up in the new year what do you do with your money? are we going to all of a sudden see a reallocation of funds? will people avoid the stock market and look elsewhere? what
the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. now our viewers can see who said this, would you be surprised that was barack obama speaking back in 2011? >> let's replay that tape. i would like to hear that again. he is talking some sense. david: what happened, bob? he is exactly the opposite today, saying that we need higher taxes. what happened in the course of a year? >> so what you're pointing out...
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michael is the president and ceo of kinex. >> good morning. >> president obama said a fam of four's taxes could go up. what impact does that have? >> it's fantastic to have the president our endorser in chief. when you remove that discretionary income and toys are a discretionary purchase as are other things. you are having some potential impact on the entire economy. obviously, toys and other things, as well. >> the president's plan calls for raising the tax rates on americans earning $250,000 or more. most republicans remain dead set against the president's plan. >> that's true. i think, though, we have to take a look at the larger context. the larger context is we have a math problem. we have $2.5 trillion that we're taking in every year on the federal government and $3.5 trillion that we're spending. so, we're going to need a balanced approach of both revenue and spending cuts to teat there. so, that's what the president has been talking about and certainly something i can support. >> "the wall street journal" today senior administration officials say the white house not making any ne
michael is the president and ceo of kinex. >> good morning. >> president obama said a fam of four's taxes could go up. what impact does that have? >> it's fantastic to have the president our endorser in chief. when you remove that discretionary income and toys are a discretionary purchase as are other things. you are having some potential impact on the entire economy. obviously, toys and other things, as well. >> the president's plan calls for raising the tax rates on...
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peter: we learned president obama and john boehner spoke for 15 minutes last night. i just bumped into a senior leader among senate democrats and asked him how he felt about this news and he said -- he was more optimistic about these negotiations today. he thought perhaps this man the speaker and the president were exchanging proposals on avoiding the fiscal cliff, john boehner has a press conference at 11:30 after his meeting with tim geithner. connell: we will speak with -- see what the speaker has to say. with all this back and forth, a decent amount of speculation that a deal is starting to take shape. look at the reporting from politico and they put numbers to its save a framework looks like this. taxes for revenue would rise by $1.2 trillion. families making them to $50,000 would see higher taxes which we have been expecting and entitlement programs would be cut by $400 billion, most coming for medicare and, quote, end of war savings peter barnes and others reported many times as being dubious because they counted the previous budget you have another trillion p
peter: we learned president obama and john boehner spoke for 15 minutes last night. i just bumped into a senior leader among senate democrats and asked him how he felt about this news and he said -- he was more optimistic about these negotiations today. he thought perhaps this man the speaker and the president were exchanging proposals on avoiding the fiscal cliff, john boehner has a press conference at 11:30 after his meeting with tim geithner. connell: we will speak with -- see what the...
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he has a trillion -- there's $1 trillion of tax increases baked into the cake because of obama's 20 taxes in obamacare. 90% of those tax increases that obama put into obamacare were conveniently put in to take effect after he got re-elected to the presidency. so there a massive tidal wave of obama tax increases coming at the american people, starting in january. has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think tom coburn thinks it's going to happen. i wanted to play a bite from him and get your reaction. here he is. >> sure. >> i'm okay to compromise even on some of my issues, if, in fact, we'll solve the problem. but what we have is a game being played f
he has a trillion -- there's $1 trillion of tax increases baked into the cake because of obama's 20 taxes in obamacare. 90% of those tax increases that obama put into obamacare were conveniently put in to take effect after he got re-elected to the presidency. so there a massive tidal wave of obama tax increases coming at the american people, starting in january. has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those...
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they want to raise the marginal tax rates for the upper earners of america. they are willing to allow a deal to lapse rather than have the tax rate rise. connell: maybe there is not a deal taking shape. they could say something like, we will raise these rates, but instead of $250,000, it has to be $500,000 or $1 million. there are ways to play a round with this. >> i think the republicans would lose, frankly, being the majority in the house. if they go ahead and give the president and democrats what they want, speaker banners speakership could be in trouble. dagen: democrats, for the most part, on the social security issue said, no, that is not happening. >> it seems to be the holy grail for the democrats. i do not think they are willing to do it. dagen: you have to get over 500 or something like that. >> i think they are more willing to make a deal on medicare than they would on obamacare. connell: force social security, like you said. dagen: and the president's plan, they want more stimulus spenddng. long-term unemployment benefits. >> these do not work. wh
they want to raise the marginal tax rates for the upper earners of america. they are willing to allow a deal to lapse rather than have the tax rate rise. connell: maybe there is not a deal taking shape. they could say something like, we will raise these rates, but instead of $250,000, it has to be $500,000 or $1 million. there are ways to play a round with this. >> i think the republicans would lose, frankly, being the majority in the house. if they go ahead and give the president and...
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. >> business owners with us today are here to highlight president obama's demand to raise tax rates instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table and then continue to negotiate the rest to have later. some of the republicans are now coalessing around that view that they should give into what the president is suggesting, at least temporarily, and continue to negotiate on the rest because there's a lot of political pain here for republicans if we do get to the point where we go over the cliff because of those higher tax rate pateryers, guys. >> all right, eamon. thank you. >> the talk continues, but none of it face to face. be sure to catch a liv
. >> business owners with us today are here to highlight president obama's demand to raise tax rates instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer...
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they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the business in the future growth, but for a one-time equity pay out. >> and to worry about interest rates are low thanks to ben bernanke. >>, but this shows the tax rates combined with very low bore heing costs and instead of investing in growth, you're investing in tax avoidance. >> and russell long said, i've come to the conclusion if you're going to have capitalism, you're going to need capital. >> goes to the heart of this, right? >> pure genius, except what's happening here is that capital could be invested in productive businesses or used next year is being pulled out of 2013, into 2012 so it can be realized as
they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the...
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president obama has thrown down the gauntlet on taxes and while the gop is stomping its feet at making the wealthy to pay a bit more, he's making his pitch to the people. at a toy factory today, he warned them to play nice. >> joe biden was in costco. he wanted to buy some of this stuff. but i told him he had too much work to dochl i wasn. i told him he wasn't going to build roller coasters all day long. of course, santa delivers everywhere. i've been keeping my own naughty and nice list for washington. so you should keep your eye on who gets come kinects this year. there are going to be some members of congress who get them and some who don't. >> what sort of plan do you give the republican who won't agree with anything? this one, of course. the president is asking for a $1.6 trillion tax increase, $50 billion in economic stimulus, and the power to raise the debt limit without congressional approval. meanwhile, he will work the fine savings in entitlements. not to the man sitting on the naughty list. senator mcconnell said that he burst into laughter at the proposal. you know what is
president obama has thrown down the gauntlet on taxes and while the gop is stomping its feet at making the wealthy to pay a bit more, he's making his pitch to the people. at a toy factory today, he warned them to play nice. >> joe biden was in costco. he wanted to buy some of this stuff. but i told him he had too much work to dochl i wasn. i told him he wasn't going to build roller coasters all day long. of course, santa delivers everywhere. i've been keeping my own naughty and nice list...
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, and it was very clear on obama wanted tax raised for the highest income americans. didn't the american people make that choice in voting for him, the electoral college and the popular vote? so isn't it incumbent on republicans to at least accept some upper income tax raise there? >> i think that the american public voted for the status quo. they voted for the gridlock that they had before the election. i think it's a little foolish of the american people to think they are going to get something different based on what they voted for. >> you think they want the status quo? >> people are locked in in the house, largely for redistricting. well, they voted for it. whether they wanted it or not, to think these people are going to change long-held habits based on one election, i think is a little bit silly. we're going to have gridlock in washington and frankly, i think gridlock is a good thing, not a bad thing. it keeps congress from taking away more liberties. >> the other thing, anderson, is that when you look at the members of congress, overwhelmingly, they were re-el
, and it was very clear on obama wanted tax raised for the highest income americans. didn't the american people make that choice in voting for him, the electoral college and the popular vote? so isn't it incumbent on republicans to at least accept some upper income tax raise there? >> i think that the american public voted for the status quo. they voted for the gridlock that they had before the election. i think it's a little foolish of the american people to think they are going to get...
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has managed to do it president obama's proposed tax increase on the wealthiest 2% of americans would affect 4 million households. they're predominately in areas like south florida major cities like new york, francisco and los angeles, all traditionally democratic enclaves. those who are won't pay the taxes oppose them, and those who will support it. here with me, robert reich at u uc berkeley's goldman school of policies. is this politics that goes back to what is the matter with kansas book a few years back. they would really not be affected by the tax increase that they want us to go through. >> it is one of the great ironies. it has to do with the big lie. if you tell the big lie over and over again people start believing it. and one of the lies that republicans have been telling for year is the lie of trickle down economics. the wealthy are job creators. if you tax them you'll have fewer jobs, fewer--less income over all. it's obviously a lie. it has proven to be a lie. if you tell it again over and over again at least enough people begin believing it in red states. people who ar
has managed to do it president obama's proposed tax increase on the wealthiest 2% of americans would affect 4 million households. they're predominately in areas like south florida major cities like new york, francisco and los angeles, all traditionally democratic enclaves. those who are won't pay the taxes oppose them, and those who will support it. here with me, robert reich at u uc berkeley's goldman school of policies. is this politics that goes back to what is the matter with kansas book a...
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the obama team wants to raise tax now, promises of entitlement reform later and ignore the debt. that's the fiscal cliff deal of the day and the market likes it and the numbers are 5, 16, 22, 23, 29, and the powerball is 6. you lost. the government won. "varney & company" is about to begin. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, . . >> . stuart: it's a modern day tea party. it's a revolt led by corporations. the wall street journal reports 173 companies announced they'll pay special dividends for shareholders before the end of the year because a big tax increase on dividends could be coming next year and many companies moving up regular dividends to save their taxpayers, to save taxpayers a lot of money. start with disney. it's raising its dividend and paying it out on december 28th. that's 1.3 billion dollars paid out in total, paid out under the current tax rate. and las vegas sands paying a special dividend, that's a one on shot
the obama team wants to raise tax now, promises of entitlement reform later and ignore the debt. that's the fiscal cliff deal of the day and the market likes it and the numbers are 5, 16, 22, 23, 29, and the powerball is 6. you lost. the government won. "varney & company" is about to begin. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, . ....
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lawmakers to accepting the tax hikes now. >> i miss visiting towns like this. >> president obama got his wish, rather than negotiating with republicans he was hamering them. back on the campaign trail in a factory that makes angry bird toys. >> it's not accept to believe me and i don't think it's acceptable for you for republicans in congress to hold middle class tax cuts hostage because they don't want the tax rates on the upper income folks to go up. >> within minutes, john boehner fired back the talks are on life support. >> let's not kid ourselves. >> boehner ripped the president for sending treasury secretary ti tim geithner to capitol hill with a proposal that led mitch mcconnell literally burst out laughing. >> the white house took three weeks to respond with any kind of proposal. and much to my disappointment, it wasn't a serious one. >> their beef is the president campaigned on $800 billion in tax increases by ending the bush tax cuts for the wealthy. but is now proposing double that. $1.6 trillion. by adding tax hikes on dividends and capital gains. plus, the white house wa
lawmakers to accepting the tax hikes now. >> i miss visiting towns like this. >> president obama got his wish, rather than negotiating with republicans he was hamering them. back on the campaign trail in a factory that makes angry bird toys. >> it's not accept to believe me and i don't think it's acceptable for you for republicans in congress to hold middle class tax cuts hostage because they don't want the tax rates on the upper income folks to go up. >> within minutes,...
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for the top 2%. >> so are you saying then for pr purposes, that they should give into obama on the tax rate? >> not exactly. well, yeah, i guess i am. >> i'm sorry, that was not one of the top conservative minds. that was ann coulter, but you have to and it to her. she's onto something there. a new quinnipiac poll shows 65% of americans support higher taxes on incomes over $250,000. the same survey showing the president's approval rating at a three-year high, 53%. the highest level since the body of osama bin laden was dumped in the north arabian sea. perhaps that's why senate majority leader harry reid felt confident enough to declare that until republicans move on tax rates, more spending cuts are off the table. >> the president made clear, i have tried to make very clear, until there's some movement in tax rates, we're -- i'm not talking about any other proposals, not about where there will be a cut here or a cut there. >> no. as a matter of fact, the only cuts the senate is talking about today are in terms of staff on the republican side. with the surprise news today that senator j
for the top 2%. >> so are you saying then for pr purposes, that they should give into obama on the tax rate? >> not exactly. well, yeah, i guess i am. >> i'm sorry, that was not one of the top conservative minds. that was ann coulter, but you have to and it to her. she's onto something there. a new quinnipiac poll shows 65% of americans support higher taxes on incomes over $250,000. the same survey showing the president's approval rating at a three-year high, 53%. the highest...
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if you consider what president obama put forward yesterday with a $1.6 trillion in tax increases mostly on the wealthy, every single economic study has shown that that will have virtually no impact on gdp growth. the congressional budget office did a study that showed that it would decrease gdp growth by 0.1%. virtually no impact. republicans didn't like that cbo study although they always like the cbo. so they went to crs to see if they could do another study that would differ from the cbo study. crs confirmed it. all the economists are unanimous if we're going to try to go after the debt, now that we have virtually 3% gdp growth, we want do it in a way that's least damaging to the economy. almost all of them agree the obama approach is the right approach. increasing the rates on the wealthy will have no impact on job creation or gdp growth. >> professor dyson, we found out today that the austerity budgets used in the eurozone have sent employment to record highs. unemployment in spain is at 25%. unemployment in greece, 25%. how is it possible speaker boehner comes out and promotes pau
if you consider what president obama put forward yesterday with a $1.6 trillion in tax increases mostly on the wealthy, every single economic study has shown that that will have virtually no impact on gdp growth. the congressional budget office did a study that showed that it would decrease gdp growth by 0.1%. virtually no impact. republicans didn't like that cbo study although they always like the cbo. so they went to crs to see if they could do another study that would differ from the cbo...